Here are some resources for practicing operational security (opsec) with your hardware wallets.
Your Unchained vault is an exercise in extreme ownership. You have the ultimate responsibility for the safety of your keys. This guide will suggest some best practices for storing your hardware wallets and seed phrases.
You can also watch our operational security webinar for a full description of these steps.
Caution: Failure to properly secure your keys may result in loss of funds if your keys get lost or stolen. Unchained is not liable for a client’s lost keys.
1. Write down your seed phrases on paper or metal.
Never store your seed phrase digitally. Do not type the words into a computer or take a picture of them. You can also purchase kits to store your seed phrase in metal, but never share your seed words with a third-party engraver or trophy shop.
2. Geographically distribute your hardware wallets and seed phrases.
Never store all of your hardware wallets and seed phrases in the same location. It is vital to get at least one hardware wallet or seed phrase outside of the house. This step protects against disasters like fires or floods and against theft.
You can use a second home, secure office, locked storage unit, trusted family member’s safe, or safe deposit box. Most bank branches offer safe deposit boxes, and some banks don't even require that you have an account with them to rent a box.
If you're keeping one or more keys at home, use a lockbox secured with a code, combination, or physical key. Fireproof and watertight lockboxes are best. You can also use so-called "diversion boxes" which are containers disguised as everyday objects like books, flower pots, or wall clocks.
3. Protect your hardware wallets with a PIN.
We recommend memorizing your PIN, but you should also write it down and store it with your seed phrase – not with the hardware wallet.
4. Enable two-factor authentication (2FA) and video verification on your Unchained account.
We offer tools to increase the security of your Unchained account. These reduce the risk of an attacker hacking into your account, changing your information, or withdrawing from a vault.
5. Contact us for Concierge Onboarding or to perform a security review.
New clients can enroll in Concierge Onboarding, where a member of our team will guide you through your key setup, vault creation, and operational security.
Existing clients who have any questions about account or key security canschedule a Premium Support session for a personalized security review.
FAQs
Crypto Steel
A highly secure way to back up your seed phrase is by permanently affixing the words to indestructible stainless steel or titanium metal plates. (Steel is more commonly used.) This approach passes the test of time, and if your house burns to the ground, your seed phrase will survive.
How do you secure your seed phrase? ›
Crypto Steel
A highly secure way to back up your seed phrase is by permanently affixing the words to indestructible stainless steel or titanium metal plates. (Steel is more commonly used.) This approach passes the test of time, and if your house burns to the ground, your seed phrase will survive.
How to keep your recovery phrase safe? ›
When you split your recovery phrase and store it in different locations, it further increases the security of your phrase. You can do it physically and virtually; however, keeping physical copies is a much safer option than digital ones.
How secure is the seed phrase? ›
Seed phrases are a crucial aspect of crypto security. They are a sequence of random words that guarantee the recovery of wallets. While seed phrases offer an extra layer of security and recovery, handling them responsibly is important. Losing access to them can result in the loss of your wallet.
Does trust wallet save your seed phrase? ›
Upon clicking Back-up manually, you will be asked to read and understand the importance of your recovery phrase. Beyond this point, the responsibility of safeguarding your recovery phrase lies purely in your hands. As reiterated from the first reminder, we do not hold a copy of your phrase on our side!
Can I choose my own seed phrase? ›
You could let your digital wallet generate a seed phrase for you. Or for very high security, you could "roll your own" seed phrase with dice or a calculator as offline methods. It is extremely important that your seed phrase be randomly generated, so that it cannot be guessed or reverse-engineered.
What happens if someone gets my Ledger seed phrase? ›
Anyone with access to your recovery phrase can steal your crypto funds without even having access to your Ledger device. Ledger does not store your private key and we will never ask you for your recovery phrase. You can learn more about your 24-word recovery phrase and how to keep it secure here.
What wallet has a 24 word seed phrase? ›
Accounts created with the Helium Wallet App are generated with 24-word seed phrases.
What is the 12-word secret phrase? ›
Your 12-word secret recovery phrase is the key to your wallet and controls access to all your funds, so write it down and keep it safe! If your device is lost or stolen, the only way to recover your funds is with your secret recovery phrase.
Can I use my recovery phrase on any wallet? ›
As long as your recovery phrase is the same, the calculation of the private keys will always have the same result—giving you access to all of the accounts connected to that mnemonic. When setting up a new wallet, it usually gives you the option to set up a new wallet or restore from a recovery phrase.
Yes, you can use the same seed phrase (recovery phrase) to set up multiple Ledger devices. Each Ledger device will generate the same set of addresses and private keys based on the shared seed phrase. This can be useful for creating backups or redundant hardware wallets.
What if my seed phrase is stolen? ›
A lost or stolen seed phrase should be treated as compromised. You need to replace the key entirely by conducting a key replacement.
How to keep seed phrases secure? ›
The simplest way to store a seed phrase is paper. Get a piece of paper, write the seed phrase on it, and you are done. It's simple, accessible, and doesn't take any technical know-how. Furthermore, paper-based storage is good for those in a hurry to find a way to store a seed phrase offline.
Where to store ledger keys? ›
To store private keys, a hardware wallet needs a chip. To keep private keys secure, that chip must also be resistant to remote and physical hacking. Ledger hardware wallets store your private keys and sign transactions offline in a Secure Element chip, isolated from your internet-connected device.
Should I take a picture of my seed phrase? ›
It is critically important to avoid recording your seed phrase in any digital format. Computers are incredibly complicated machines and thus are prone to a litany of security issues. People's devices are hacked on a regular basis. Copies of your seed phrase can be put at risk when stored digitally.
How does a seed phrase get compromised? ›
This may have occurred through a variety of means including, but not limited to: Downloading malicious software. Inputting personal information on a phishing website. Giving away your private key or recovery phrase.
What if someone steals my seed phrase? ›
A lost or stolen seed phrase should be treated as compromised. You need to replace the key entirely by conducting a key replacement.
What if someone knows my seed phrase? ›
So, now you know that your seed phrase is a backup to all of your crypto wallet. This also means that if anyone else can get their hands on your set of 24 words, they can access your cryptocurrencies. As such, it's extremely important to keep your seed phrase secure.
Where should I put my seed phrase? ›
Keeping the seed phrase on a robust piece of material is important, but so is keeping it in a place that is difficult to access physically. It should be stored somewhere you can keep locked, such as a safe or a lockbox. A safe is better than a lockbox, as that is bulkier and harder to physically carry.
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